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hard currency on the open market. >> and though the soviet empire is a thing of the past, china is echoing the aspirations of its predecessor. >> there's no question that we're going to face a very serious challenge in the years to come, dealing with a rising china that wants to be dominant and hegemonic in its own region, wants to control sea lines of communication, wants to control the south china sea. and we have allies who stand to lose from that and look to us for support. i think that's the likeliest area of actual conflict. >> the pentagon will often say and right now the u.s. spends something like 4, 5, 6 times what china spends on its defense spending. and the big question then becomes what is china's intention? (instrumental music) >> in a national call to arms defense secretary leon panetta warned the threat of a significant cyber attack against america is already here. >> the collective result of these kinds of attacks could be a cyber pearl harbor. >> what are the threats american's face in this century? with the attacks of september 11th, the u.s. has had to comple
. >> excellent news out of china. pmi is an index or the ask people how confident you are feeling, indicating the fourth quarter of the year, china has seen a very marked pickup in economic growth. that is extremely good news because china had been having a pretty sluggish time of things over the course of the first half of 2012. this is leading the optimism that 2013 could break away from the economic doldrums. nonetheless [indiscernible] >> there you go. thank you very much. u.s. secretary of state hillary clinton is receiving treatment at a hospital in new york for a blood clot. she suffered a concussion earlier this month after fainting and falling down. the blood clot was discovered during a follow-up medical examination rea. >> hillary clinton earlier this month. it is believed it was while on her trip to europe that the u.s. secretary of state contracted a stomach virus that left her severely dehydrated. on her return home, she collapsed and severed a concussion. during a follow-up examination, doctors have discovered a blood clot. mrs. clinton is being kept under observation in this b
of china selected new leaders, the secretive process produced a new president, l.a. lakers fan married to a rock star. but china's foreign policies are likely to stay the same. number five, moment morsi, islamist group, became president of egypt. as his predecessor, dictator ousted by his people, went on trial from his hospital bed. morsi impressed the west by helping to broker the cease fire that ended an outbreak of warfare between hamas and israel. he then disappointed many by aawarding himself sweeping power s at home, triggering new outbursts in tahrir square. number four, israel and hamas brought fuel on the fiery west in the region. one side firing rockets. for the first time, israel felt vulnerable in jerusalem and tell aaveev. before the big guns of diplomacy helped to broker a cease fire. number three in europe, greece was the problem child that spent too much, saved nothing and threatened to take down the euro. new leadership, pay cuts, higher taxes as their weary government begs for more cash. committing to save the euro. it lives on, but for how long? >> the deadliest mont
't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american
if none of this was going on politically and we were just dealing with the fed, china, some of the -- europe. >> it would be higher, substantially. >> probably at all-time highs in every index but the nasdaq. ask yourself this question, where is the greater risk being completely in cash and then they get a deal done? or is the risk to the upside, or to the downside rather. markets have an interesting way of slowly getting used to negative news, specifically news that's been sitting on the horizon for so long. they have been talking about this for 500 days now. so i doubt very highly, even if the calendar rolls on with no deal, we are looking at a 10% kupgs. i can't see it being triggered because people are not going to be that shocked. >> john and jerry, how do you see this market looking on the other side of the holiday? >> i think once we get through this, it will be a small and anorexically thin deal, judge. after that, we'll be facing the debt ceiling. and that negotiation will drag on until the 11th hour as well. you can bet your bottom dollar on it. so what i'm thinkin
tick down towards the fiscal cliff deadline. >>> china's manufacturing activity hits its fastest pace in a year and a half. >>> and as we head towards the end of the year, global markets look at decent returns, outperformers this year include german, japanese and hong kong stocks. the u.s. senate will meet at 11:00 a.m. eastern after lawmakers tried most of sunday to avoid a fiscal cliff. proposals moved back and forth including tying social security to the chained cpi index. aides say talks between harry reid and mitch mcconnell focus on extending middle class tax breaks and renewing unemployment benefits. president obama says the u.s. markets and economy will suffer if congress fails to act. and here is what the major players had to say at least publicly this weekend. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would continue to tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. >> the sticking point appears to be a willingness, and interest or fra
in ad spending. facebook added $0.70 to $26.60. it looks like apple's mini ipad is a big hit in china. apple's stores both on the mainland and in hong kong are reportedly either out of stock or have tight supplies. apple climbed nearly 4.5% to close at $532. some big changes over the weekend at zynga. the online game maker slashed 11 games from its library as part of its cost-cutting plans. shares of zynga were up just $0.03 to a little more than $2, well below their $10 i.p.o. price from last december. cal-maine foods slipped nearly 10% after the egg producer reported a drop in prices and higher feed costs. shares were down more than $4 to $40. oliffs natural resourd tkeac n some decent gains on the back of some positive manufacturing data from china. cliff's tacked on nearly $3 , or 8.5%. and in the commodities corner, oil and gold both posted some gains on exnsctaatiof o f scal cliff deal in washington. oil climbed a little more than a dollar to $91 o0, il but p pces still logged their first annual loss in four years. , fo1220crude-oil prices fell more than 7%12 gold climbed nearl
let's go to another name that you say is a great u.s. play, on china stabilizing and growing. >> yes, and that's starbucks. starbucks a great american company. everybody needs a good cup of coffee. in china there is only one starbucks for every 1.9 inhabitants, can you believe that when we have one basically on every corner? [laughter] so there's tremendous opportunity there. you've got the tea growers in china, a lot of them are now switching to coffee because of starbucks, so that's a double play for you. liz: wait until they find out what a frappucino tastes like. >> oh, look out, china. liz: two pharma companies, what do you think are the big names here because we're all getting older, and we all need new medicine. >> we're going to be buying a lot of pfizer especially and bristol-myers. those are the two picks we have. pfizer is around 24, $25 a share, bristol-myers about 31. and they have in common a new blood-clotting drug, and everyone's very, very excited about that. bristol-myers developed it, and pfizer will be marketing it. so we hi there's huge opportunity -- we think th
. one, global growth. china appears to be stabilizing and the rest of the emerging markets are growing. more demand for export business. number two, corporations are sitting on $1.5 trillion of cash. they have a lot of cash. they just need to know how to spend it based on overall tax policy. and number three, if you look at equipment and plant equipment in america today, the inventory is old and due reinvestment and upgrades. there's a lot of pent up demand for investment spending. >> there have been a few bright spots in our economy anyway. i think of housing, which has been in recovery mode right now. does that continue in 2013 even if we do see this -- some sort of resolution of the fiscal cliff and what it could do to paychecks and jobs in the economy? >> the offset is that people look at the value of their houses and start feeling better. one-third of household wealth is the value of their house and if they start seeing prices stabilize and appreciating, that could offset some pullback in overall consumer spending. >> where will we make money then, do you think? >> my sense is eme
. >> in shanghai in china they sang an alternative version of auld lang syne. >> and in hong kong a more familiar one. ♪ auld lang syne ♪. >> a sum >> holman: a somber mood prevailed across india on new year's eve, as the country mourned the victim of a gang rape. celebrations were scaled back after the 23-year-old woman died on saturday at a hospital in singapore. the attack on her has triggered mass protests in india. today, amid candlelight vigils, there were more calls for tougher rape laws. . >> we have all decide tad that we will not sell brat new years because this year we have lost a sister from amongst us. and whenever we lose someone of our own, or that person passes away we mourn for them. this time we are spending new year's in mourning >> holman: six men have been arrested and charged with murder in the attack. former president george h-w bush is showing signs of improvement. over the weekend the 88-year-old was moved out of intensive care at a houston hospital, where he'd been fighting off a fever. the 41st president was admitted on november 23 with what began as a bronchitis-re
to pyongyang. press articles hail the fact that china in anticipation of the recent launch had begun inspecting cargo on north korean ships in search of contraband. the question this raises is why has chi gnat not been inspecting north korean ships since 2006 as called for in a u.n. resolution, reinforced by another resolution in 2009. if u.n. member states would only enforce the sanctions currently on the books, north korea would be unable to ignore the swer national community and the civilized world. the time for coordinated international action is now. the time, in fact, is long overdue. with that, mr. speakering i reserve the balance of our time. the speaker pro tempore: the squom from florida reserves. the gentleman from california, mr. berman is recognized. mr. berman: thank you, mr. speaker. i rise in strong support of h.con.res. 145 as amended and yield myself such time as i may consume. sproy the gentleman is recognized. mr. berman: i would like to thank the sponsor of this legislation, ms. ros-lehtinen, for her leadership on this issue and her work in addressing the north korean threa
. >> and china had a fantastic pmi number which said their manufacturing activity hasn't been this strong for 16 months. china is the second-largest economy in the world. and definitely not a fiscal cliff there. but today's activity i thought was amazing when you consider there's still so much left undone and as john just said, everything he said was tax, tax, tax. >> amazing like a head scratcher? >> yeah. i get the fact we had five straight down days and we were oversold. i don't think you get a solution that rallies this market 2% tomorrow, even if it's everything everybody wanted to hear. >> right, the fact of the matter is, they may agree on taxes but taxes across the board pretty much are going higher and there's still the debt limit issue and then the spending cuts issue. >> that's the thing. you nailed it. the debt ceiling conversation is going to be a weapon of force and it's something that's going to be hanging over this market. i heard nothing about entitlements. a house that wasn't even going to vote for boehner's plan b, which was $1 million in terms of the tax increases. i'm a litt
, saudi arabia actors. is really also about china and russia on the one hand, and the united states and europe on the other. so we have three levels of stalemate. local, regional and international, simply because there's so much at stake. so a country like syria, or a regime like syria for the past 40 years have had these calculations in mind. so this is not to excuse the regime whatsoever. this is to understand, the outcomes of what we have been witnessing for the past several decades involve these kind of calculations that many of us don't take into account. >> and we've been talking with bassam haddad, "business networks in shyria: the political economy of authoritarian resilience" is the name of this book. it's published by stanford. professor haddad is also head of the middle eastern studies program here at george mason university. this is a booktv on c-span2. >> tell us what you think about our program this weekend. you can tweet us at booktv, comment on our facebook wall, or send us an e-mail. tv, nonfiction books every weekend on c-span2. >> with just days left in this mont
, you renounce the 35-hour week or we take your jobs and we send them to hungary, poland, if not china. >> so there should be huge political support then to change it. >> um, there is not a huge political support to change it. >> why not? >> because it's seen as a sort of entitlement now. >> people see it as their right. >> exactly. >> "i'm only gonna work 35 hours a week and that's it." >> exactly. >> no, no, no! >> so no french politician would even dare to suggest fundamental reform, like trimming that guaranteed five weeks of vacation. and american melchior ray has been won over. she's talked herself into the idea that the french way of working, rather, not working, translates into good economic sense. >> people came back, and it was like everyone had had ten shots of espresso. they were just ready to go. they were like ever ready bunnies. everyone was going tog
europe by a long shot, and we're seeing slowing in a lot of other major economies, including china, india, brazil. is there some sense that, just like the u.s. set off all of this nonsense back in 2008, a u.s. retrenchment, as you call it, a slowdown in growth caused by the fiscal cliff, could boomerang around the world and actually push the united states further back? >> there's no question. a self-defeating, downward spiral would begin if the worst effects of the fiscal cliff come into effect, and they're not reversed. and you don't even have to wait for the full magnitude which would, as you rightly know, ali, it's not a cliff, it's a slope. it's an ever-increasing slope over several months. you don't even have to wait long. you've only got to see what would happen when the social security withholdings start increasing, the withholding tax starts to move up. then you see that boomeranging effect we talked about. >> you and i have made fun of a lot of the europeans who have not been able to get their act together. when you look at the united states, who's messing it up more? >> it is --
the ripples go across the pacific to asia and japan and china and to all those countries and across the atlantic to europe. i was talking a few moments ago to ali rand. he's the vice president for the urpian commission and he's the economics commissioner for the yourian union. the chief if you like of economics. he said we're concerned about the u.s. going over the cliff. it's time for a partial deal, and we support the efforts of u.s. policymakers. he said it would have a negative impact, and he said if there's no deal before the year's end. europeans tonight are -- not that it makes much difference. are calling very firmly on all the parties in washington to get a deal done. >> so, richard, i don't know if washington is listening to anybody outside of washington yet, but we'll see how the day goes. there's a lot of blame directed to the united states, but you know, you look at the euro zone, and it had its own issues. it took them quite a bit of time before they could actually get their own deal, their bailout deals done. is there a backlash, do you suppose? is there a bit of blam
on policywise in japan and the whole trade. fascinating to see china hit a few weeks post leadership changes, first time this year the markets had more than 10% rally there. and the signs of europe's issues being if not resolved, certainly more minimized in terms of stress. so i think we're going tothz a lot clearer signs of powerful rallies coming from the rest of the world in 2013 which will make it somewhat different than 2012 and to some extent the previous two years, as well. >> joe is down in washington wauchg all of this first hand and i know he has a question for you, as well, jim. >> feeling all the different things coming in. >> that must be a real challenge for you being down in d.c. how did you get that straw? >> yeah, it is. i can take it for about 24 hours. i am feeling a lot of what's happening. and in the last 2 1/2 years or so, the poisoned atmosphere down here just to try and do anything is becoming really apparent. we put the sequester because it was so hard to try and do anything last time to force us, now we're not really inclined to do it again. my question, even if we
Search Results 0 to 16 of about 17